What is a combined unit in real estate?
What is a Combined Unit in Real Estate?
In real estate, a combined unit refers to two or more adjacent or adjoining properties (such as apartments, condominiums, or office spaces) that have been legally and physically merged into a single living or working space. This process often involves the removal of walls to create a larger area and may require approval from property management, homeowners' associations, or local government bodies. Combined units are typically sought after for the purpose of creating a more spacious and customized living or working environment than what is available through single, standalone units.
Examples of Combined Units
Examples of combined units in real estate vary widely, reflecting the diversity of property types and owner preferences. Here are some common examples:
- Luxury Apartments or Condos: Owners might purchase adjacent apartments or condos and combine them into one large, luxurious space. This is common in urban areas where space is at a premium, allowing owners to create custom floor plans that suit their lifestyle.
- Office Spaces: Businesses may combine several adjacent office units to create a larger, open-plan workspace or to accommodate more employees, departments, or specialized areas like meeting rooms and lounges.
- Retail Spaces: Retailers might combine adjacent storefronts in a shopping center or mall to create a larger retail space, allowing for more inventory display, diverse product lines, or additional customer services.
- Hotel Suites: Some hotels combine adjacent rooms or suites to create larger accommodations for families or VIP guests, offering more bedrooms, living areas, and enhanced amenities.
- Townhouses or Duplexes: In some cases, owners of townhouses or duplexes might combine units to create a single, larger residence, often resulting in a more spacious living environment with additional bedrooms, bathrooms, and living areas.
- Artist Lofts or Studios: Artists or professionals in creative industries might combine multiple lofts or studio spaces to create a larger area for work, exhibitions, or living quarters, enabling a blend of functional and living space.
These examples illustrate the flexibility and potential benefits of combined units, offering customized solutions to meet specific needs, preferences, and lifestyle choices in various real estate contexts.
